Divorce in a Post-Tax Reform World with a Focus on Cross-Border Issues

Holland & Knight International Private Client Webinar Series
Webinar
PWS Divorce Post Tax webinar
February 17, 2021
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12:00 PM - 1:00 PM ET
Webinar

Holland & Knight's International Private Client Group, part of the firm's Private Wealth Services Practice, is offering an exclusive International Private Client Webinar Series. Our highly experienced attorneys will delve into the personal and business matters that affect international high-net-worth families and individuals. We will provide insight on how to protect you, your loved ones or your business in divorce, adoption, international tax and estate issues, and other sensitive matters, as well as how to develop a strategic plan for a legacy that could last for generations.

During the second webinar of this series, Partner Stewart Kasner and Senior Counsel Liam Crane will review significant legislative changes that affect deductibility and income taxation of alimony payments made to and received by former spouses. Made effective in 2019, these changes need to be considered in the 2020 tax year.

Withholding tax rules in which the former spouse receiving the alimony payments is a non-U.S. person and the payor spouse is a U.S. person have been affected. The rules are further complicated by the differences in how alimony is taxed in other countries, which can create double taxation unless a tax treaty exists and rectifies the whipsaw effect. Additionally, the division of property between former spouses, where either spouse is not a U.S. person, can trigger unanticipated income tax consequence and withholding tax exposures not often contemplated, particularly where the transfer of U.S. real property is involved.

This presentation will highlight these pitfalls and give suggestions on how to structure alimony payments and property divisions that arise in a cross-border context as well as other issues that are often overlooked.

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